en.Wedoany.com Reported - The New South Wales Government has launched an AUD 480 million interest-free loan program aimed at encouraging residents to install renewable energy equipment such as rooftop solar panels and home batteries, with a maximum loan amount of AUD 15,000 (approximately USD 10,600).
Households in New South Wales with a total taxable income not exceeding AUD 210,000 can apply for this 10-year zero-interest loan for home upgrades that improve energy efficiency and reduce living costs. The program is part of a AUD 557 million package in next week's state budget and is expected to benefit at least 32,000 households.
In addition to the loans, discounts of up to AUD 4,000 will be introduced later this year for households with a total annual income not exceeding AUD 80,000 or eligible concession card holders, for energy efficiency upgrades. The budget commitment for this subsidy is AUD 77 million. Tenants can also apply for these subsidies with the landlord's consent.
Eligible households can also combine the state program with the federal government's "Cheaper Home Batteries Program," which offers a discount of approximately 30% on the upfront cost of installing a typical small battery system for new or existing rooftop solar systems.
New South Wales Premier Chris Minns stated that the program is a practical way to make energy efficiency upgrades more affordable. He noted that for many families, the upfront costs of these upgrades are too high, and the government is doing its best to help so that more households can access relevant technologies while ensuring a more reliable and secure energy system for the state's future.
Home improvement projects eligible for the loans include rooftop solar, battery energy storage systems, electric vehicle chargers, switchboard upgrades, and solar water heaters. Additionally, the program covers induction cooktops, DC ceiling fans, reverse cycle air conditioners, ceiling insulation, weather sealing, and double glazing.
Smart Energy Council Chief Executive David McElrea called the program "a huge win for households." He stated that helping low-income earners and tenants overcome cost barriers to modernize their homes with smart solar, batteries, efficient cooling and heating equipment is the fastest way to permanently reduce household expenses while building a more resilient grid.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
